Portugal’s REN has 14 pct of company building power transmission lines in Mozambique

23 August 2013

Portuguese power grid company Redes Energéticas Nacionais (REN) has a 14 percent stake in the consortium that will build power transmission lines linking central Mozambique to the south of the country, Portuguese financial daily Diário Económico reported.

The newspaper said that the Portuguese company was expected to invest around US$252 million in the project known as Cesul (Centre-South).

The biggest stake in the consortium, the newspaper said, is in the hands of REN’s strategic partner and majority shareholder, China State Grid.

The Chinese group has a 46 percent stake of the Mozambican company that will build the line between Tete and Maputo. Other companies in the consortium include South African power group Eskom, the biggest customer of the electricity generated at the Cahora Bassa dam, with a 20 percent stake. (macauhub)